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Press Review: SNB Officials Eating Words Risk Lasting Investor Aches
Brent crude oil holds above $48, few analysts see quick recovery
(Reuters) - Brent crude oil futures edged higher on Friday, holding above $48 a barrel as analysts said prices were well supported around current levels, although few expect a strong rebound anytime soon as global output continues to outweigh demand.
Benchmark Brent crude futures were trading at $48.38 per barrel at 0802 GMT, up 11 cents since their last settlement. U.S. crude was trading at $46.50 a barrel, up 25 cents.
"Our forecast seems to point towards a consolidation stage in the weeks to come," Phillip Futures said in a note. "Therefore, we expect crude prices to trade range bound between $44.75-$50.69 for WTI Mar'15 and $46.4-52.89 for Brent Mar'15."
SNB Officials Eating Words Risk Lasting Investor Aches
Brace for $40-a-barrel oil.
Switzerland's central bank officials have just eaten their words, risking lingering indigestion in financial markets.
Gold Heads for Second Weekly Advance as Swiss Shock Boosts SPDR
Gold traded near a four-month high, set for a second weekly gain, on haven demand after Switzerlands's unexpected currency move. Assets in the largest exchange-traded product expanded the most since 2011.
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